Coinhako is raising new funds to spread the SEA throughout the SEA crypto exchange – Wired PR Lifestyle Story

Singapore’s cryptocurrency exchange has garnered an undisclosed amount from Coinhako in a round of investor participation like the SBI-Sygnum-Azimut Digital Asset Opportunity (DAO) fund.

With the new funds raised, Coinhako will be able to grow its team as it expands into Southeast Asia to serve the growing cryptocurrency user base in the region.

The funds will also accelerate the startup of Singapore’s acquisition of a deeper and broader customer base with Coinha Privé, a recently launched institutional and valuable service offering.

SBI, Sygnum and Azimut said they will share their combined experience and extensive networks in traditional finance and digital assets to support Coinhako’s expansion plans.

“We are pleased to be the first investment in the Coinha DAO Fund. As we continue to invest in digital asset companies, the fund will provide a platform to accelerate their growth, leveraging the strength of the existing network and the future network of the fund’s portfolio,” said DAO Fund Manager Alice Mak. .

“Coinhako has significant potential to become a key player in Asian cryptocurrencies, and with the approval of the Singapore Monetary Authority (MAS), it will be a reliable node in the digital asset ecosystem. .

New funds soon after the approval of the main MAS license

Yusho Liu, co-founder and CEO of Coinhako, said the startup is excited to introduce a new set of strategic investors with a strong presence in Singapore to accelerate its growth plans.

He noted that the company has been able to close its previous fundraisers with major foreign venture capitalists since the 2014 angel round.

Coinhako recently received one approval in principle As the main payment institution for providing digital payment token services from MAS. This became the first local bank-free crypto exchange to receive Coinha’s approval.

It is currently working hard to provide digital payment token (DPT) services in Singapore in the coming weeks for MAS to receive a license from the Central Paying Agency.

Featured Image Credit: Coinhako, The Smart Local